Stocks in focus on March 19: M&M, Paytm and Jindal Steel & Power cross their 200-DEMA levels on Tuesday

NIFTY50 and SENSEX continued the winning streak on Tuesday as both benchmark indices rose more than 1.5%. The broader indices closed with gains of more than 2% adding bullish momentum to the Indian markets. The rally was broad-based as 2,288 stocks closed in green against 646 in red on the NSE on Tuesday. On technical charts, the NIFTY50 and SENSEX broke their 20 SMA level resistance and closed above it. The NIFTY50 crossed the 20-SMA level of 22,556 and closed at 22,834 and SENSEX crossed its 20-SMA level of 74,492 and closed at 75,301 on Tuesday.

These stocks gave positive momentum by closing above their 200-DEMA levels on Tuesday

M&M

Shares of leading automobile manufacturer, Mahindra & Mahindra crossed its 200 DEMA levels on Tuesday and closed comfortably above it. The share price closed 3.19% higher on Tuesday at ₹2,791 crossing its 200 DEMA of ₹2,757 on Tuesday. The shares are nearly 15% away from their record-high levels of ₹3,270.

Paytm

Shares of fintech and payment aggregator One97 Communications Ltd closed 7.6% higher on Tuesday crossing its 200 DEMA level of ₹728 apiece on the NSE. The shares are down nearly 30% from their 52-week high levels of ₹1,062 last touched in December 2024.

Jindal Steel & Power

Shares of Jindal Steel & Power closed above their 200 DEMA mark on Tuesday amid a broad base rally in metal stocks. The stocks are also expected to react to the imposition of a provisional 12% safeguard duty on steel imports. The share closed 2.93% higher on the NSE at ₹923 apiece crossing its 200 DEMA of ₹900 apiece. The shares are down approximately 16% from their record-high levels touched in May 2024.

Apart from the above, stocks like Balrampur Chini Mills, Caplin Point Services, Coforge, JK Cement, Jubilant Ingrevia, Jyoti CNC Automation, Lemontree Hotels, M&M Finance, NLC India and more also crossed their 200 DEMA on Tuesday.